Euromonitor International's Macro Model provides forecasts and scenarios for key macroeconomic variables, including GDP and unemployment. The Global Economic Forecasts report focuses on quarterly changes for major economies and the potential scenarios for the global economy. The global economic outlook has improved since Q1 2021, with expected global real GDP growth of 5.8% in 2021, the fastest in over 40 years. This upgrade is mainly driven by advanced economies, which are expected to grow by 5% in 2021, compared to the long-term trend growth of 1.5%. Developing economies' real GDP growth forecast for 2021-2022 has been raised by just 0.2-0.3 percentage points.
